Revolutionizing Internet Access with Andrena
Andrena, a Solana-based company, recently announced an $18M raise led by Dragonfly in February 2023. With investors like 6thManVentures, Wintermute, Paraficapital, Robot Ventures, and EV3ventures, the company is set to democratize internet access for users throughout the United States.
Dawn of Decentralized Internet Services
Andrena has been providing affordable wireless internet services since 2017, starting at just $30 per month. The latest funding is geared towards advancing the development and deployment of Andrena’s decentralized autonomous wireless network (DAWN) protocol.
- DePINs enable peer-to-peer crowd networks for various resources, similar to energy trading.
- DAWN protocol allows users to buy, sell, and share internet bandwidth directly.
- Proof of backhaul mechanism ensures the throughput capabilities of each node.
Explosion of the DePIN Market
The DePIN sector has seen a remarkable 296% increase in fundraising volume year over year, leading to a 400% surge in total market capitalization, now standing at $20 billion. Solana is at the forefront of DePIN projects, hosting approximately 78 initiatives.
- Increased capital influx has driven significant growth in the industry.
- Solana dominates with 78 DePIN projects on its network.
- Other Layer 1 blockchains like IoTeX and Peaq are also expanding their DePIN ecosystems.
Hot Take: Embracing a Decentralized Future
As the DePIN sector continues to flourish, the shift towards decentralized internet services is becoming more pronounced. With Andrena leading the charge on Solana, a consumer-owned model for the internet is not just a vision but a tangible reality in the making.
Sources:
– X Article
– Messari Report
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